LeBron James is going to need to change his baseball allegiances. The longtime Yankees fan is set to become a part-owner of the Red Sox after becoming a Fenway Sports Group partner, according to the Boston Globe.
James previously owned a 2% share of the Liverpool soccer club, another FSG property, and now owns an undisclosed number of FSG shares.
In becoming a partner, the Lakers superstar also becomes a part-owner of other FSG properties like NESN, Roush Fenway Racing and Fenway Sports Management.
The Globe also reports that FSG has approved a $750 million private investment that would make RedBird Capital Partners its third-largest partner with an 11% stake, contingent on approval by Major League Baseball. Maverick Carter, James’ longtime friend and business partner, is joining him as a new partner as well.
The Globe reports that RedBird’s investment combined with James’ brand recognition is part of an effort to expand FSG’s portfolio, with NFL, NBA, NHL, MLS, WNBA and NWSL teams all on its wish list, in addition to another European soccer club.
John Henry will remain FSG’s principal owner. Chairman Tom Werner and president Michael Gordon will also remain in their current roles. Werner’s FSG stake remains the second-largest behind Henry, while Gordon drops to fourth behind RedBird.
Forbes recently ranked FSG as the fourth-most valuable sports empire in the world, with a valuation of $6.6 billion.